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20130113
20130121
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, for our economy cannot be overstated. the sovereign debt of the united states, for it to be questions that we would pay our bills or not, is not a scenario that we want to go through as a country. that would really harm us. that said, as i was coming back on the train from new york, i shared this with those with me. i said you're going down this track at 130 miles an hour. what would cause the conductor, knowing that if he veers off on this next rail to the right and pulled the switch that would cause that to happen, even if he knew it would put the train at severe risk by veering off to the right, what would be the only reason a person would go off that course rather than go straight? and the reason is that there's a larger cavern, kind of a grand canyon that we are about to go off. here's what i have concluded as a businessman and a seasoned public servant. the music will stop at some point with respect to where we are. when we are pouring $1 trillion a year, 40 cents on the dollar, you cannot do that into perpetuity. the time for leadership is right now. the time to address this is
because that is a big part of the economy here. and what has happened over the years is essentially there is only so much hay and water you can haul. pretty soon people had to do something with their livestock and they were in such poor condition that by the time they realized that over 30,000 cattle died. allotted times drought mitigation plans will decline for two or three years so we have to think about the way we plan for droughts in what we do. >> there are two more questions right there. this one i want to go to roger. do you think that we will be seeing mega-droughts taking place in more parts of the country and then we are going to hit back on a policy question. >> the answer to that is most likely, but the reason why it is most likely because it happened in the past. during the years 900 to 12 or 1300 we had extended periods of drought in the colorado basin, anywhere from 60 to 100 years in the record. when we have an increasing temperature it does not necessarily cause a drought, but it exacerbates the conditions related to drought for the reasons i mentioned related to ar
is greater than our nation's economy exceeding our g.d.p. and we have on the floor floor toda legislation that calls upon our children and grandchildren even greater burdens of debt. it's time to end the credit card economics. we simply cannot afford to spend money that we are borrowing from countries like china on-line items we don't need and constitution isn't authorized to spend. my amendment strips one line item out of this bill. this is really low-hanging fruit. the sandy relief effort was increased by $1 million to boost the legal services corporation, massacre aiding as disaster relief and i thought we had a ban on earmarks in this congress. why is a bailout for new york lawyers emergency hurricane relief, even if you believe this is a legitimate government program which i don't, by the way, how can you argue that spending on lawyers is a legitimate emergency spending? let me say again, for $-- we are $16 trillion in debt, we are $16 trillion in debt, america. we simply cannot afford to continue like this. we cannot keep spending on money we don't have on things we can't afford and
or to radically, giving too much money into many loans purses to few. banks are important part of the economy and the finance new job growth and the ability of people to buy a home, which is the largest single investment that they will make. we really need for them to be there to help the consumers and businesses finance their operations. the balancing act is not being too strict so that they will draw in and not land but not being too lax. that is a fine line. we shall we shallthe cfpb has achieve that with these rules. financial institutions will complain about any regulation because they did not want to be subject to kinds of rules that instruct them in how to do their business. when you read the complaints from the financial industry, i would say we have to take some of those with a grain of salt. host: gretchen morgenson is the "the new york times" assistant business and financial editor. she was co-author of "reckless endangerment.' guest: who basically were the interco parties in creating the crisis decades later. host: don is next from clifton, virginia. caller: a good time to segue t
Search Results 0 to 3 of about 4